The company's financial position appears increasingly fragile, evidenced by a massive $216.8 million deficit in retained earnings and a reliance on $9.2 million in net PPE that contributes minimally to revenue generation.
| Total Current Assets | 49.93M | 39.83M | 25.58M | 9.47M | 23.78M | 22.52M | 6.51M | 13.76M |
| Cash & Short-Term Investments | 44.38M | 34.73M | 23.62M | 8.15M | 22.6M | 21.95M | 6.06M | 13.28M |
| Cash Only | 5.13M | 990.02K | 23.62M | 3.59M | 10.54M | 21.95M | 6.06M | 13.28M |
| Short-Term Investments | 39.25M | 33.74M | 0 | 4.56M | 12.06M | 0 | 0 | 0 |
| Accounts Receivable | 2.73M | 1.54M | 1.35M | 775.22K | 210.94K | 0 | 0 | 0 |
| Days Sales Outstanding | 1.67K | 2.57K | 1.34K | 189.99 | 293.87 | - | - | - |
| Inventory | 1.78M | 2.04M | 150.24K | 0 | 66.78K | 0 | 0 | 0 |
| Days Inventory Outstanding | 2.42K | 5.48K | 102.37 | - | 130.47 | - | - | - |
| Other Current Assets | 1.03M | 1.52M | 0 | 0 | 50K | 50K | 400K | 400K |
| Total Non-Current Assets | 11.03M | 10.22M | 4.51M | 3.56M | 1.73M | 133.7K | 168.19K | 327.23K |
| Property, Plant & Equipment | 9.22M | 9.24M | 2.62M | 2.48M | 1.26M | 102.79K | 133.81K | 289.38K |
| Fixed Asset Turnover | 0.03x | 0.02x | 0.14x | 0.60x | 0.21x | - | - | 0.43x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 462.09K | 466.22K | 1.9M | 1.08M | 473.08K | 30.92K | 34.38K | 37.85K |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 1.35M | 518.58K | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Assets | 60.96M | 50.05M | 30.1M | 13.03M | 25.51M | 22.65M | 6.67M | 14.09M |
| Asset Turnover | 0.01x | 0.00x | 0.01x | 0.11x | 0.01x | - | - | 0.01x |
| Asset Growth % | 1068.54% | 66.32% | 130.91% | -48.9% | 12.58% | 239.49% | -52.64% | - |
| Total Current Liabilities | 4.13M | 4.8M | 3.49M | 2.08M | 1.39M | 407.43K | 380.42K | 286.22K |
| Accounts Payable | 372.71K | 217.44K | 297.78K | 196.96K | 155.94K | 112.27K | 73.02K | 116.35K |
| Days Payables Outstanding | 567.2 | 584.65 | 202.89 | 58.82 | 304.67 | - | 167.57 | - |
| Short-Term Debt | 650.31K | 312.37K | 0 | 0 | 0 | 0 | 0 | 55.77K |
| Deferred Revenue (Current) | 3.91M | 0 | 769.18K | 101.5K | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 862.02K | 4.27M | 0 | 0 | 0 | 11.68K | 0 | 0 |
| Current Ratio | 12.07x | 8.29x | 7.33x | 4.55x | 17.14x | 55.28x | 17.10x | 48.09x |
| Quick Ratio | 11.64x | 7.87x | 7.29x | 4.55x | 17.09x | 55.28x | 17.10x | 48.09x |
| Cash Conversion Cycle | 3.52K | 7.47K | 1.24K | - | 119.67 | - | - | - |
| Total Non-Current Liabilities | 6.25M | 6.5M | 15.01M | 317.34K | 0 | 0 | 695.08K | 0 |
| Long-Term Debt | 6.25M | 0 | 0 | 0 | 0 | 0 | 695.08K | 0 |
| Capital Lease Obligations | 6.42M | 6.5M | 0 | 317.34K | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 15.01M | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 10.39M | 11.3M | 18.5M | 2.4M | 1.39M | 407.43K | 1.08M | 286.22K |
| Total Debt | 6.9M | 6.81M | 317.34K | 1M | 376.62K | 0 | 695.08K | 55.77K |
| Net Debt | 1.77M | 5.82M | -23.3M | -2.59M | -10.16M | -21.95M | -5.36M | -13.22M |
| Debt / Equity | 0.14x | 0.18x | 0.03x | 0.09x | 0.02x | - | 0.12x | 0.00x |
| Debt / EBITDA | -0.26x | - | - | - | - | - | - | - |
| Net Debt / EBITDA | -0.07x | - | - | - | - | - | - | - |
| Interest Coverage | -59.79x | - | -20.43x | - | - | -813.15x | - | - |
| Total Equity | 50.57M | 38.75M | 11.59M | 10.64M | 24.12M | 22.25M | 5.6M | 13.8M |
| Equity Growth % | 1226.32% | 234.27% | 9.01% | -55.9% | 8.41% | 297.44% | -59.45% | - |
| Book Value per Share | 4.59 | 8.54 | 8.77 | 24.18 | 69.01 | 345.04 | 535.92 | 1333.74 |
| Total Shareholders' Equity | 50.57M | 38.75M | 11.59M | 10.64M | 24.12M | 22.25M | 5.6M | 13.8M |
| Common Stock | 136 | 80 | 2 | 0 | 337 | 265 | 10 | 10 |
| Retained Earnings | -223.31M | -216.82M | -189.27M | -160.02M | -135.73M | -116.49M | -108.69M | -100.36M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity and solvency
As reported in recent SEC filings, Cyngn's total assets have fluctuated significantly, reaching $50.1M in 2025Q4, yet the persistent accumulation of a $216.8M deficit in retained earnings suggests that the company's balance sheet trajectory is fundamentally weakening due to sustained, non-productive capital consumption.
The widening gap between asset growth and retained earnings indicates that the company is effectively consuming its equity base to fund ongoing operating losses. This trajectory suggests that the business model has yet to achieve the necessary scale to stabilize its financial position, leaving the balance sheet increasingly reliant on external capital injections.
Based on the company's reported figures, cash and equivalents plummeted to $990,000 by 2025Q4, a sharp decline from the $31.3M held in 2025Q2, which indicates that the firm's liquidity buffer is rapidly evaporating in the face of ongoing, high-burn operational requirements.
While the current ratio remains elevated at 8.29, this metric appears misleading as it is likely inflated by non-liquid assets rather than readily available cash. Investors should monitor the company's ability to secure additional financing, as the current cash position appears insufficient to support the existing cost structure for an extended period.
According to financial statements, the company's equity base has been severely eroded by a cumulative deficit in retained earnings of $216.8M as of 2025Q4, suggesting that shareholder value is being systematically depleted by the firm's inability to generate positive net income from its autonomous vehicle software operations.
The reliance on equity financing to cover persistent losses implies a high probability of future dilution for existing shareholders. This pattern suggests that the current equity structure is primarily a vehicle for funding R&D rather than a reflection of accumulated operational success or retained value.
As indicated by the provided balance sheet data, the presence of $9.2M in net PPE alongside minimal revenue suggests that the company may be carrying significant, potentially impaired hardware assets that do not contribute to a scalable software-driven business model, warranting further investigation into asset recoverability.
The disconnect between the capital-intensive nature of the reported PPE and the company's stated software-first strategy may indicate a strategic misalignment. This suggests that the headline asset values might be overstated if the underlying hardware assets cannot be effectively repurposed or liquidated in a distressed scenario.
Quick answers to the most common questions about buying CYN stock.
As of 2025, Cyngn Inc. (CYN) had total assets of $50.1M including $39.8M in current assets.
Cyngn Inc. (CYN) carries total debt of $6.8M, offset by $34.7M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Cyngn Inc. (CYN) has total shareholders' equity (book value) of $38.8M ($8.54 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Cyngn Inc. (CYN) reported a current ratio of 8.29x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.